My partner and I are nearing an exchange on a flat in Pontllanfraith and my parents have sent the 10% deposit to my property lawyer. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancing practitioner is duty bound to check with the bank to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We just had an offer accepted to purchase with Darlington Building Society. We have called around locally yet am unable to find a Pontllanfraith conveyancing firm on the Darlington Building Society panel. Could you help?
Please do take advantage of the search tool on this web page. Pick the mortgage company and type Pontllanfraith or your preferred area and you will see a number of lawyer based in Pontllanfraith or by proximity to you.
How does conveyancing in Pontllanfraith differ for newly converted properties?
Most buyers of new build or newly converted property in Pontllanfraith approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Pontllanfraith tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Pontllanfraith or who has acted in the same development.
I am downsizing from my home. My past lawyers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Pontllanfraith if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Pontllanfraith. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
My wife and I have selected a Pontllanfraith conveyancing solicitor for our house purchase (novice purchasers) and have picked up in the terms and conditions that they are not governed by the FCA. Need I be concerned or is that usually the case with property lawyer?
We can't see why they should be. Most conveyancer don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who have strict obligations covering funds held by them.